Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Journalist reveals MGK decision to fight against all religious groups

In a statement that came as a confession, a reporter from the pro-government Sabah daily said a decision was made at the National Security Council (MGK) meeting on Thursday to wage an effective war against all religious groups in the country.

Mother of 5 children abandoned in parking lot released on high bail

A Turkish court on Monday released a housewife, a mother of five whose children were abandoned in a parking lot after her detention, on TL 50,000 bail. This is a high figure in a country where the minimum wage is approximately TL 1,300. The woman will be put behind bars again if she fails to pay the bail within seven days.

More evidence Erdogan behind coup

While the narrative voiced by Erdogan and echoed by the Turkish press blamed Gülen exclusively, many Turks and diplomats quietly harbored suspicions that Erdogan planned and staged the coup himself as a Turkish equivalent of the Reichstag Fire. That may once have sounded like a fringe conspiracy, but increasingly it seems the likely genesis of events last July.

Mothers, fathers crying and praying due to extensive victimization

Mothers cried out and made objections wherever state brutality was observed. This noble and peaceful attitude was not only displayed at the education institutions affiliated with the Hizmet movement.

Turkey’s Erdogan and unending human rights repression

The judiciary, media organisations, opposition parties, civil servants, charity groups, just to mention a few, are being subjected to a daily dose of massive abuses and suffocation in Turkey under President Recep Tayyip Erdogan. The recent catch to the abuse list is the sacking of medical professionals, scientists, and other academics from universities.

Lawyers confirm: Turkish teachers are still in Kosovo

Lawyers representing six Turkish teachers who were arrested in Kosovo on Thursday, have released a written statement in which they confirmed that the teachers have not been deported to Turkey yet.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

US calls decision by Turkey to seize Zaman newspaper ’troubling’

Is Hizmet making a feint at Turkish Government?

86-year-old man in 11th month of his arrest on coup charges

Former Norwegian PM: Our center takes same approach as Gülen

Pakistan – Side effects of the coup in Turkey

Don’t draw us into your family fight: Washington

Woman accused of being Gülenist by ex-husband in prison for 10 months

Copyright 2026 Hizmet News